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Thursday, May 2, 2024

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It’s not the economy, stupid

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For the first time in decades, the dominant pre-election issue in the US is not the economy, but migration.

This observation, from Gerald Baker, a columnist and executive at the Wall Street Journal, is significant, as he has his finger on the pulse of what’s happening inside the US.

The perception that the economy wins elections has prevailed for many years. The famous phrase, “it’s the economy, stupid,” coined by former President Bill Clinton’s advisor, has become the central slogan for most election campaigns. Good economic indicators and growth have been key factors in a candidate’s success, and the opposite has often led to defeat.

If this precedent held firm, Joe Biden would have little to worry about, despite his advanced age and the gaffes he makes, which some attribute to his mental state. He could boast about positive growth, increasing wages, and declining unemployment. However, the pivotal issue in the 2024 elections is not the economy—it’s migration.

The US has experienced a massive influx of illegal immigrants under President Joe Biden’s administration—at least six million, according to some estimates. Most of these immigrants seek asylum, while others do not. Their management has become a problem not only for the states along the Mexican border but also for many cities, including New York.

Many Americans, as Gerald Baker points out, are concerned about the substantial costs involved, the large number of arrivals, and the involvement of some migrants in criminal activities. Whether these concerns are valid or not is beside the point. What matters is that they create a sense of a genuine crisis, leading to social and economic pathologies.

Voters feel threatened by immigrants and sense that their values and way of life are at risk. The “fear of the foreigner” narrative is so powerful that the issue has risen to the top of the agenda, pushing other topics down the list.

This shift marks a significant development, indicating a broader disillusionment with the current political system. Many voters are disappointed and anxious. They are willing to place their trust in anyone who promises change and a better future.

Americans’ primary concern has shifted towards migration, reflecting a profound change in the public mood. This shift is highly significant, signaling a general unease as the world undergoes rapid changes.

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